Background COVID-19 has brought about unprecedented uncertainty in South Africa and in this article, we will discuss some of the material relief measures that have been instituted by the South African Government (the “Government”) to provide essential assistance to employers and employees of businesses impacted by COVID-19. Before we consider the nature and scope of…
Read MoreFinancial Audit: The Multi-Tasking Business Booster Historically, financial audits have carried the reputation of being “dreaded” and “burdensome”. Something you only complete if it is required by law. The idea of a voluntary audit seems absurd. Until you understand the multiple business benefits of an audit beyond legalities compliance. Audited financials show both the shareholders…
Read MoreBite-Sized Budget 2020/21 Take-Outs for Busy Businesses The budget speech has come and gone, but what it means for business is still baffling the best of us. While Finance Minister, Tito Mboweni, delivered some good news and some bad news, his speech mainly comprised proposals. At least, as far as the private sector was concerned.…
Read MoreWe watched from afar how COVID-19 tightened its grip on China and then spread even further at a staggering pace. Now, it’s in South Africa and our lives have changed radically in a matter of days. Most working South Africans are asking themselves: “Is it safe to go to work?” and many employers are worried…
Read MoreHow To Get The Ultimate Returns From Your Statutory Returns When you choose the right financial partner, you won’t just meet your statutory deadlines but derive exceedingly high value from them too. Exceed helps you submit sound returns, on time, and save on costs that you didn’t even realise you had! The Deadline Dilemma Ask…
Read MoreExceed (Cape Town) Inc.’s Bellville office attended an incredible fundraising initiative for Huis Jabes on the 14th of May. Huis Jabes is a safe-house for victims of domestic violence, focusing on women and children. There have been over 500 women and children move through this safe-house which is currently full to capacity. The fundraising evening…
Read MoreTax Threshold changes for Individuals The South African Revenue Service together with the newly appointed SARS Commissioner Edward Kieswetter announced a new filing threshold in June 2019. The threshold of individuals who are required to file tax returns was increased from R 350 000 to R 500 000. Requirements Individual taxpayers who meet all of the following…
Read MoreRequirement Any person who receives income (or to whom income accrues) other than a salary, advance or allowance, is a provisional taxpayer and should register for provisional tax at SARS. Provisional tax is not a separate tax from income tax. It is a method of paying the income tax liability in advance, to ensure that…
Read MoreAll companies are required to have Annual Financial Statements compiled to reflect the financial position and performance of the company for the past year. This can be a stressful time for directors and staff, especially if the financial statements are subject to an audit. With a little bit of preparation, this process can be…
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